US stock indexes are mixed; technology companies gain

Monday

May 1, 2017 at 10:58 AMMay 1, 2017 at 10:58 AM

U.S. stocks are mostly higher Monday morning after Congress agreed to a deal that will keep the government operating for the rest of the fiscal year, averting a shutdown that could have affected many businesses that work with the government. Technology companies climbing while energy companies slip with the price of oil.

The Associated Press

NEW YORK — U.S. stocks are mostly higher Monday morning after Congress agreed to a deal that will keep the government operating for the rest of the fiscal year, averting a shutdown that could have affected many businesses that work with the government. Technology companies climbing while energy companies slip with the price of oil.

KEEPING SCORE: The Standard & Poor's 500 index picked up 3 points, or 0.1 percent, to 2,387 as of 10:05 a.m. Eastern time. The Dow Jones industrial average lost 8 points to 20,932. The Nasdaq composite rose 21 points, or 0.4 percent, to 6,068. That put the index on track for another record close. The Russell 2000 index of small-company stocks dipped 1 point, or 0.1 percent, to 1,399.

EARLY LEADERS: Technology companies did better than the rest of the market. Apple climbed $2.18, or 1.5 percent, to $145.83 and Facebook added $1.53, or 1 percent, to $151.78. Apple will report its first-quarter results after the market closes on Tuesday and Facebook will make its report late Wednesday. Consumer-focused companies also rose, as online retailer Amazon.com picked up $15.60, or 1.7 percent, to $940.59, and health care companies traded higher.

TRIBUNE TALKS? Tribune Media rose after the Financial Times reported that 21st Century Fox and Blackstone may make a joint takeover bid for the company. Tribune Media has stakes in Food Network, WGN cable network and owns TV stations. Tribune stock gained $221, or 6 percent, to $38.77. The companies declined to comment. Sinclair Broadcast Group is also reported to be interested in buying Tribune.